Zim orders that 25 percent of all State contracts be awarded to SMEs

Zim orders that 25 percent of all State contracts be awarded to SMEs
Published: 21 March 2012 (1304 Views)
The Zimbabwe government has ordered that 25% of all State contracts be awarded to small to medium-scale enterprises to promote the sector’s growth.

This follows the government's recent gazetting into law of the Small Enterprises Development Corporation Amendment Act.

The move will see to it that government promotes the development of Micro-Small and Medium Enterprises (MSMEs) in the country by ensuring proper coordination and implementation of policies, legislation and programmes that have a direct impact on the development of small enterprises.

The passing of the Act paves way for the establishment of a Small and Medium Enterprise Advisory Council whose role would be to advise government, local authorities and other statutory bodies on issues relating to small enterprises.

The advisory council would be in a position to evaluate existing and proposed legislation on MSMEs and reports its findings to the minister.

Through the new law, a Micro-Small and Medium Enterprises Fund will be created to promote and facilitate the establishment and development of small enterprises.

The legislation seeks to facilitate access by MSMEs to capital and finance as well as advance bilateral, regional and international trade and investment prospects.

Last week the government admitted it was not doing enough to support small-to-medium scale enterprises despite their significant contribution to the gross domestic product.

- ND

 0

You May Like These Videos

Comments

There are no comments.

Latest stories

Prophet Makandiwa mansion raises eyebrows

by Staff Reporter | 22 July 2019 | 60 Views

Exposed Ramaphosa reacts to Public Protector's report

by Staff Reporter | 22 July 2019 | 39 Views

UCE graduation ceremony

by Dr. A. Luthuli | 22 July 2019 | 41 Views

ZERA looking to remote fuel monitoring system

by Staff reporter | 22 July 2019 | 44 Views

The corruption commission

by Clemen Moyo | 22 July 2019 | 51 Views

Government speaks on Auxilia Mnangagwa - Army fallout

by Mandla Ndlovu | 21 July 2019 | 191 Views

Chinamasa's world up in flames

by Mandla Ndlovu | 21 July 2019 | 175 Views

Teachers to shutdown schools on Monday

by Mandla Ndlovu | 21 July 2019 | 151 Views

Zimbabwe govt licenses companies for riverbank mining

by Staff Reporter | 21 July 2019 | 97 Views

ZCTU proceeds with demo preps

by newzimbabwe | 21 July 2019 | 147 Views

Mnangagwa pledges support for women's projects

by Staff reporter | 21 July 2019 | 89 Views

Mthuli Ncube needs to work his magic on inflation

by Staff reporter | 21 July 2019 | 112 Views

'The electorate believes in Zanu-PF'

by STaff reporter | 21 July 2019 | 94 Views

Mnangagwa gets Sadc boost

by Staff reporter | 21 July 2019 | 102 Views

Power shortage hits mobile phone services

by Staff reporter | 21 July 2019 | 78 Views

City fathers or city dealers at council chambers?

by Limukani Ncube | 21 July 2019 | 86 Views

Bulawayo residents call for dissolution of council

by Staff reporter | 21 July 2019 | 81 Views

Nust bursar suspended

by Staff reportet | 21 July 2019 | 81 Views

Mid-air scare for fastjet passengers

by Staff reporter | 21 July 2019 | 79 Views

Exploring the causes of Gukurahundi

by Dr Obert Mpofu | 21 July 2019 | 106 Views

Lobels shut down Bulawayo plant again

by Staff reporter | 21 July 2019 | 95 Views

Harare demands 30-year-old debt from Zesa

by Staff reporter | 21 July 2019 | 76 Views

Kalanga lobby group to produce textbooks

by Staff reporter | 21 July 2019 | 75 Views

Govt moves to tackle gold leakages

by Staff reporter | 21 July 2019 | 66 Views

Mthuli Ncube to rescue closed mines

by Staff reporter | 21 July 2019 | 82 Views

Zimbabwe reels as 18-hr power cuts

by Staff rpeorter | 21 July 2019 | 118 Views

Kirsty Coventry denies interference

by AFP | 21 July 2019 | 59 Views

Zimbabwe removes barriers to solar energy expansion

by Thompson Reuters Foundation | 21 July 2019 | 108 Views

Zimbabwe food crisis an emergency, says UN

by VOA/ UN News | 21 July 2019 | 58 Views

Can Bosso's Prince rise again?

by Staff reporter | 21 July 2019 | 36 Views

CIO operative harasses journalists

by Staff reporter | 21 July 2019 | 35 Views

Save Bulawayo from vultures

by Staff reporter | 21 July 2019 | 69 Views

The pig in Mthuli Ncube's bacon

by Zifiso Masiye | 21 July 2019 | 90 Views

Mnangagwa ally faces probe in $3bn scandal

by Staff reporter | 21 July 2019 | 48 Views

Power outage cripples Econet services

by Staff reporter | 21 July 2019 | 56 Views

Lobengula descendants demand State House

by Staff reporter | 21 July 2019 | 47 Views

Zanu-PF vote-buying scandal raises alarm

by Staff reporter | 21 July 2019 | 66 Views